Union Bankshares Corp lessened its stake in shares of International Business Machines Corp. (NYSE:IBM) by 81.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,728 shares of the technology company’s stock after selling 24,666 shares during the quarter. Union Bankshares Corp’s holdings in International Business Machines were worth $879,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of IBM. Franklin Street Advisors Inc. NC grew its holdings in shares of International Business Machines by 23.3% during the fourth quarter. Franklin Street Advisors Inc. NC now owns 51,327 shares of the technology company’s stock worth $7,875,000 after purchasing an additional 9,686 shares in the last quarter. Chesley Taft & Associates LLC grew its holdings in shares of International Business Machines by 1.7% during the fourth quarter. Chesley Taft & Associates LLC now owns 41,827 shares of the technology company’s stock worth $6,417,000 after purchasing an additional 701 shares in the last quarter. Hutchens Investment Management Inc purchased a new position in shares of International Business Machines during the fourth quarter worth about $2,239,000. DnB Asset Management AS grew its holdings in shares of International Business Machines by 109.2% during the fourth quarter. DnB Asset Management AS now owns 957,110 shares of the technology company’s stock worth $146,840,000 after purchasing an additional 499,574 shares in the last quarter. Finally, New England Research & Management Inc. grew its holdings in shares of International Business Machines by 14.2% during the fourth quarter. New England Research & Management Inc. now owns 10,853 shares of the technology company’s stock worth $1,665,000 after purchasing an additional 1,350 shares in the last quarter. 58.78% of the stock is owned by institutional investors and hedge funds.
Shares of International Business Machines Corp. (NYSE IBM) opened at $156.18 on Monday. The company has a debt-to-equity ratio of 2.25, a current ratio of 1.33 and a quick ratio of 1.29. International Business Machines Corp. has a 12-month low of $139.13 and a 12-month high of $182.55. The firm has a market capitalization of $144,590.09, a P/E ratio of 11.29, a price-to-earnings-growth ratio of 2.28 and a beta of 0.94.
International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Thursday, January 18th. The technology company reported $5.18 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $5.17 by $0.01. International Business Machines had a return on equity of 69.48% and a net margin of 7.27%. The firm had revenue of $22.54 billion during the quarter, compared to the consensus estimate of $22.03 billion. During the same quarter in the previous year, the company posted $5.01 earnings per share. The business’s revenue was up 3.6% on a year-over-year basis. equities research analysts forecast that International Business Machines Corp. will post 13.82 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 10th. Shareholders of record on Friday, February 9th will be given a $1.50 dividend. The ex-dividend date is Thursday, February 8th. This represents a $6.00 annualized dividend and a yield of 3.84%. International Business Machines’s payout ratio is currently 98.20%.
In other International Business Machines news, Director Frederick H. Waddell bought 610 shares of International Business Machines stock in a transaction dated Wednesday, January 31st. The shares were purchased at an average cost of $163.38 per share, with a total value of $99,661.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.23% of the stock is currently owned by insiders.
IBM has been the subject of several recent analyst reports. Vetr raised International Business Machines from a “buy” rating to a “strong-buy” rating and set a $165.26 price objective for the company in a report on Wednesday, November 15th. Zacks Investment Research lowered International Business Machines from a “hold” rating to a “sell” rating in a report on Tuesday, December 19th. Societe Generale set a $149.00 price objective on International Business Machines and gave the stock a “sell” rating in a report on Friday, January 19th. Cantor Fitzgerald reissued a “hold” rating and set a $152.00 price objective on shares of International Business Machines in a report on Friday, January 19th. Finally, Morgan Stanley boosted their price objective on International Business Machines to $198.00 and gave the stock an “overweight” rating in a report on Friday, January 19th. Seven equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eleven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $164.37.
COPYRIGHT VIOLATION NOTICE: “International Business Machines Corp. (IBM) Holdings Trimmed by Union Bankshares Corp” was originally reported by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are viewing this article on another publication, it was copied illegally and republished in violation of U.S. and international copyright and trademark legislation. The legal version of this article can be viewed at https://www.dispatchtribunal.com/2018/02/19/international-business-machines-corp-ibm-holdings-trimmed-by-union-bankshares-corp.html.
International Business Machines Company Profile
International Business Machines Corporation (IBM) is a technology company. The Company operates through five segments: Cognitive Solutions, Global Business Services (GBS), Technology Services & Cloud Platforms, Systems and Global Financing. The Cognitive Solutions segment delivers a spectrum of capabilities, from descriptive, predictive and prescriptive analytics to cognitive systems.
Want to see what other hedge funds are holding IBM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for International Business Machines Corp. (NYSE:IBM).
Receive News & Ratings for International Business Machines Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for International Business Machines and related companies with MarketBeat.com's FREE daily email newsletter.